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Revolution Medicines Announces Commencement of Public Offering of Common Stock

On July 19, 2022 Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, reported that it has commenced an underwritten public offering to sell up to $200 million of shares of its common stock (Press release, Revolution Medicines, JUL 19, 2022, View Source [SID1234616762]). All of the shares of common stock are being offered by Revolution Medicines. In addition, Revolution Medicines intends to grant the underwriters a 30-day option to purchase up to an additional $30 million of shares of common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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J.P. Morgan, Cowen and Guggenheim Securities are acting as the joint book-running managers for the proposed offering.

A shelf registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission on March 2, 2021, and automatically became effective upon filing. This offering is being made solely by means of a prospectus. A copy of the preliminary prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at [email protected]; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by telephone at (833) 297-2926 or by email at [email protected]; or Guggenheim Securities, LLC, Attn: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Propanc Biopharma Successfully Produces Synthetic Recombinant Trypsinogen Via POP1 Joint Research & Drug Discovery Program

On July 19, 2022 Propanc Biopharma, Inc. (OTCQB: PPCB) ("Propanc" or the "Company"), a biopharmaceutical company developing novel cancer treatments for patients suffering from recurring and metastatic cancer, reported that successful production of a synthetic recombinant version of the proenzyme trypsinogen was completed via the Proenzyme Optimization Project 1 (POP1) joint research and drug discovery program (Press release, Propanc, JUL 19, 2022, View Source [SID1234616761]). The program is designed to produce a backup clinical compound to the Company’s lead product candidate, PRP, which is targeting metastatic cancer from solid tumors. According to Emergen Research, the global metastatic cancer market is projected to be worth $111 Billion by 2027.

The program’s lead research scientist, Mr. Aitor González, was able to produce the recombinant trypsinogen successfully. Previously, attempts to produce synthetic trypsinogen when manufacturing in larger quantities were unable to be stabilized. Mr. González consulted with Professor Diethard Mattanovich, Institute of Microbiology and Microbial Biotechnology, at the University of Natural Resources and Life Sciences, Vienna, Austria, Europe, and is ready to undertake a larger scale production of recombinant trypsinogen, subsequently purified to achieve a higher quality product. This process will also be repeated for recombinant chymotrypsinogen to manufacture a synthetic recombinant formulation to the Company’s lead product candidate, PRP.

"The work we’re undertaking with the POP1 Joint Research and Drug Discovery Program is novel and complexed so that we can produce an even better higher quality product than the naturally derived version which comprises the PRP formulation," said Dr. Julian Kenyon, MD, MB, ChB, Propanc’s Chief Scientific Officer and Co-Founder. "The proenzymes are very large molecules which can affect their stability when undertaking production in the laboratory. Therefore, I’m highly impressed with the quality of work produced by Aitor in Professor Mattanovich’s lab. Our goal is introducing a new therapeutic approach for the treatment and prevention of metastatic cancer by using proenzymes to target and eradicate cancer stem cells. We want to ensure that we harness the already potent anti-cancer effects of the naturally derived proenzymes, whilst reducing variability between lots and improving stability. Much in the way porcine insulin was first introduced to patients to treat diabetes on a mass scale in the 1920’s by Eli Lilly, who then went on to produce synthetic ‘human’ insulin 50 years later."

The objective of the POP1 program is to produce large quantities of trypsinogen and chymotrypsinogen for commercial use that exhibits minimal variation between lots and without sourcing the proenzymes from animals. Propanc is undertaking the challenging research project in collaboration with the Universities of Jaén and Granada, led by Mr. González, supported by Prof. Macarena Perán, Ph.D. and Prof. Juan Antonio Marchal M.D., representing the Universities, respectively, and Dr. Kenyon.

PRP is a mixture of two proenzymes, trypsinogen and chymotrypsinogen from bovine pancreas administered by intravenous injection. A synergistic ratio of 1:6 inhibits growth of most tumor cells. Examples include kidney, ovarian, breast, brain, prostate, colorectal, lung, liver, uterine and skin cancers.

Portage Biotech Acquires Outstanding Minority Interest of Invariant Natural Killer T cell (iNKT) Agonist Platform

On July 19, 2022 Portage Biotech Inc. (NASDAQ: PRTG), a clinical-stage immuno-oncology company developing therapies to improve patient lives and increase survival by avoiding and overcoming cancer treatment resistance, reported that the Company has acquired the outstanding ownership interest (approximately 22%) of its invariant natural killer T cell (iNKT agonist) platform and now fully owns the worldwide rights to its small molecule iNKT agonists, including lead programs PORT-2 and PORT-3 (Press release, Portage Biotech, JUL 19, 2022, View Source [SID1234616760]). The platform was acquired through Portage’s iOx Therapeutics Ltd. (iOx) subsidiary from the founding equity holders in exchange for 1,070,000 ordinary shares of Portage. Additionally, a payment of $25,000,000 in Portage ordinary shares or cash would be triggered upon the achievement of a certain clinical milestone in the PORT-2 or PORT-3 programs.

Both PORT-2 and PORT-3 are potent approaches to priming and boosting an immune response in solid tumors with potential to address unmet need in cancer treatment. PORT-2 is a liposomal formulation of an iNKT agonist, IMM60, while PORT-3 is a nanoparticle coformulation of Portage’s iNKT agonist packaged with an antigen to establish immune priming and boosting. Leadership at Portage initially founded iOx Therapeutics in February 2015 based on the preclinical potential of iNKT agonist technology, which has been shown to inhibit the growth of tumors in multiple cancer types. Both PORT-2 and PORT-3 are in clinical trials in melanoma and non-small cell lung cancer (PORT-2) and NY-ESO-1 positive solid tumors (PORT-3). The Company expects preliminary data from these programs by the end of 2022 and early 2023, respectively. The decision to commit full ownership to the iNKT platform demonstrates the Company’s commitment to the ongoing PORT-2 and PORT-3 programs and the iNKT platform as a whole.

"This transaction demonstrates our belief in the potential of iNKTs to drive an innate and adaptive immune response while correcting the suppressive tumor microenvironment," said Dr. Ian Walters, Chief Executive Officer of Portage Biotech. "With development of both PORT-2 and PORT-3 progressing and preliminary efficacy data expected later this year, we believe the time is right for us to acquire full ownership of these promising assets. With our recent acquisition of Tarus Therapeutics, Portage now has two fully owned broad immunotherapy platforms with four clinical-stage assets."

"This latest milestone is also a reflection of the strength of our business model of identifying and efficiently advancing compelling drug platforms to improve the treatment outlook for patients and create value for our shareholders," Dr. Walters continued. "Portage is grateful for the work of the late Professor Vincenzo Cerundolo and the teams at Ludwig Cancer Research and University of Oxford in developing the understanding of iNKTs so that we can test this mechanism in cancer and hopefully broaden and improve current treatment options for patients."

About iNKT agonists PORT-2 and PORT-3

PORT-2 and PORT-3 contain small molecule agonists (IMM60) of invariant natural killer T cells (iNKT cells) developed by the University of Oxford, which play an important role in anti-tumor immune responses. iNKT cells are a distinct class of T lymphocytes and recognize lipid antigens on the surface of the tumor. Portage’s synthetic iNKT agonists are designed to optimally engage the T cell receptor on the iNKT and facilitate its binding to dendritic cells, resulting in the secretion of a large amount of pro-inflammatory cytokines. This leads to the activation and expansion of important immune system components and primes and boosts an adaptive immune attack against cancer. We see that monotherapy treatment with iNKT agonists shows a heightened immune response and better cancer control in animal models that are resistant to PD-1 antibody treatment. Combination therapy with PD-1 antibodies is synergistic with iNKT agonists and restores sensitivity to PD-1 blockade. While treatment with iNKT agonists alone shows promising activity against cancer, data suggests that when an iNKT agonist is co-packaged with tumor-specific antigens, potency is increased by up to 5x. PORT-2 is a liposomal formulation of an IMM60 iNKT agonist while PORT-3 is a co-formulation of an IMM60 iNKT agonist with an NY-ESO-1 peptide vaccine, co-packaged into a nanoparticle. Clinical trials were initiated in 2021 for both PORT-2 and PORT-3.

PharmaCyte Biotech Reports Positive Interim Results in Malignant Ascites Mouse Model Study

On July 19, 2022 PharmaCyte Biotech, Inc. (NASDAQ: PMCB), a biotechnology company focused on developing cellular therapies for cancer, diabetes, and malignant ascites using its signature live-cell encapsulation technology, Cell-in-a-Box, reported that it has achieved positive interim results in its study to establish a malignant ascites mouse model which will form the basis for further testing of the effectiveness of its CypsCapsTM plus ifosfamide pancreatic cancer therapy for the treatment of malignant ascites (Press release, PharmaCyte Biotech, JUL 19, 2022, View Source [SID1234616759]).

The study is being conducted by Heidelberg Pharma, a leading German biotechnology company focused on cancer therapies, using colon carcinoma cells from a Master Cell Bank established by Austrianova implanted in genetically susceptible mice. Primary objectives include establishing parameters with respect to (i) optimum tumor cell inoculation dose; (ii) timing curve with respect to tumor growth; and (iii) the most accurate method to assess tumor burden. The last point is particularly important because it provides a gauge to measure the effectiveness of therapeutic interventions.

Initial data in the study indicate that a measure of overall tumor volume is likely a more accurate way of tracking tumor burden when compared to measuring labeled tumor cell fluorescence. Tumor volume in the study is being reported using an adaptation of the Sugarbaker-index. The Sugarbaker-index is a widely used and accepted quantitative prognostic indicator for patients with malignant ascites.

PharmaCyte’s Chief Executive Officer, Kenneth L. Waggoner, said, "We are highly encouraged that Heidelberg Pharma’s work with this study to establish a malignant ascites mouse model is proceeding exactly as we had hoped and that it has yielded valuable information as we work diligently to advance our therapy for malignant ascites. We are confident that all our objectives in this study will be achieved. We will continue to keep our shareholders informed as work progresses at Heidelberg Pharma."

Malignant ascites is caused by an accumulation of fluid in the peritoneum causing the abdomen to swell as a result of cancer. It is often associated with ovarian, uterine, cervical, colorectal, stomach, pancreatic, breast and liver cancers. Malignant ascites can result in significant impairment to the quality of life of a cancer patient and reduce survival. Currently, available treatments are mainly supportive and palliative. In most patients, development of malignant ascites is a sign of advanced disease and poor prognosis.

PharmaCyte expects its treatment to offer cancer patients a therapy that slows down or eliminates the production and accumulation of malignant ascites fluid. There is currently no such treatment on the market.

Nascent Biotech Receives Notice of Allowance from USPTO for Issuance of Additional Patent

On July 19, 2022 Nascent Biotech, Inc. (OTCQB:NBIO) ("Nascent Biotech", "Nascent", or the "Company"), a clinical-stage biotechnology Company pioneering the development of monoclonal antibodies targeting treatment of various cancers and viral infections, reported that the United States Patent and Trademark Office (the "USPTO") has issued a Notice of Allowance for claims related to the Company’s lead candidate Pritumumab (Press release, Nascent Biotech, JUL 19, 2022, View Source [SID1234616758]).

A Notice of Allowance is issued after the USPTO makes the determination that a patent should be granted from an application.

The allowed patent application, which is titled, "KITS AND CONTAINERS FOR TREATING VIMENTIN EXPRESSING TUMORS" (US Patent Application No. 17/515,010), provides broad protection for Pritumumab ("PTB") and the storage conditions related to its use in clinical applications.

Dr. Ivan Babic, in charge of Nascent’s R&D, and the inventor listed on the patent, stated, "Allowance of the Pritumumab patent highlights the uniqueness of this naturally-derived antibody and the importance of the right experimental and storage conditions for maintaining its potency."

"This notice of allowance provides further validation of our novel approach to treat brain cancers with Pritumumab, a unique natural antibody capable of crossing the blood brain barrier," said Sean Carrick, CEO of Nascent. "This patent represents a critical step in protecting our technology and establishing Nascent as the leader in treating vimentin-expressing tumors."

A patent from the recently allowed application is pending issuance and is expected to be issued in the near future.

PTB is a natural human antibody that works by binding to Cell surface Vimentin (also referred to as ectodomain vimentin, or EDV), a protein expressed on the surface of epithelial cancers. PTB is used as a targeted immunotherapy because it targets only cancer cells without damaging healthy cells, unlike chemotherapy.